The Philadelphia-based fitness club secures an interim neighborhood location throughout the construction of the flagship location
PHILADELPHIA, PA, APRIL 1, 2022 – Today, National Real Estate Development, LLC (National Development) and Kushner Real Estate Group (KRE) announced that City Fitness has leased over 17,000 square feet inside their new residential building at the corner of 2nd and Spring Garden Streets, part of the partner’s new multi-phase, mixed-use development project in Philadelphia’s Northern Liberties neighborhood. The project is a joint venture between KRE and National Real Estate Advisors, LLC (National) on behalf of 200 Spring Garden Street Associates LLC.
Home to City Fitness’ first club location which opened in the Northern Liberties neighborhood in 2007, City Fitness will return to occupy the new building at 2nd and Spring Garden Streets in a state-of-the-art facility, along with an outdoor deck area featuring a 75-foot lap pool with views of the Center City skyline – available exclusively to City Fitness club members. Set to open in early 2024, City Fitness is the transformative development project’s first and largest retailer.
During construction of the 2nd and Spring Garden Street development, City Fitness will move its Northern Liberties location to National and KRE’s neighboring 460 North 2nd Street building, with over 11,000 square feet of newly customized gym space. Scheduled to be ready for members by the end of April 2022, City Fitness is retrofitting and building out the 460 North 2nd Street location to make a semi-permanent new home for its members while the new gym is constructed. This new club facility will be equipped with a full array of premium cardio and strength training machines and will feature a section dedicated to City Fitness’ popular THRIVE training program. The new facility will also feature additional dedicated turf space for general gym usage and the exciting addition of Olympic lifting platforms.
“We are proud that City Fitness will continue to call Northern Liberties home within our new development project,” said Daniel Killinger, President, National Real Estate Development. “After partnering with City Fitness at East Market in Center City, we know how integral they are to the fabric of a community, and we look forward to ensuring the neighborhood has access to their premier health and fitness amenities for years to come.”
Since opening in 2007, City Fitness has expanded to six locations spread throughout Philadelphia, each unique space designed to tailor to the surrounding neighborhood and community. City Fitness has built Philadelphia’s largest fitness/wellness community of more than 18,000 members, with everything one needs for an active, busy lifestyle: boutique-style studios, world-class equipment, open spaces for functional training, and featured luxe amenities like saunas, steam rooms, and HydroMassage chairs. City Fitness also supports active lifestyles in Philly through several community initiatives outside of the clubs. With a brand mantra of ‘more than a gym; we’re a community,’ over the years City Fitness has helped build parks, sponsored public art installations, and hosted concerts in support of community initiatives. As a hometown Philadelphia success story, City Fitness believes in giving back to the City but is also doing its part to make Philadelphia the healthiest and fittest city in the nation.
“The neighborhood of Northern Liberties has changed so much since we opened in 2007 but it remains at its heart, a strong and vibrant community. We’re delighted to have had a part of that growth and development and are excited to continue to be a part of its future” said Ken Davies, Founder & CEO of City Fitness. “And we’re thrilled to partner again with National in this transformative Northern Liberties development. We know that they have a strong community focus in their projects which aligns well with the City Fitness brand and vision.
National and KRE have purchased four parcels between Callowhill Street and Spring Garden Streets with plans to create a unique neighborhood inspired by the surrounding historic Old City and Northern Liberties neighborhoods. The site will be a mixed-use, pedestrian-centric development with two anchoring residential towers and street-level retail that will cater to a diverse community that values walkability and convenience. The partnership has retained prominent architectural firm Handel Architects, Morris Adjmi Architects, and MAJOR to design the project.
“We are looking forward to forming a partnership with City Fitness and their strong community already established in the Northern Liberties area,” said Jonathan Kushner, President of Kushner Real Estate Group. “We are confident this will be an attractive amenity for future residents and bring the local fabric of the neighborhood to our development.”
For additional information about City Fitness – Northern Liberties and the new development project, please continue to visit City Fitness’ website as it will be updated as more information is released.
About Kushner Real Estate Group:
Founded in 1979 and headquartered in Jersey City, NJ, KRE Group is a full-service real estate investment and management company with properties in New York, New Jersey, and Pennsylvania. The KRE multi-family portfolio exceeds 9,000 existing apartments, with an additional 7,000 in various stages of approval and construction. The company also owns and manages more than 6,000,000 square feet of office, warehouse, and retail space. For more information, visit the company’s website at www.thekregroup.com.
About National Real Estate Development, LLC:
National Real Estate Development, LLC (National Development), is a real estate development firm focused on developing complex, urban mixed-use projects throughout the country. Since 2013, the team has developed over four million square feet in major markets such as Philadelphia, Los Angeles, and San Francisco. National Development bases its rigorous development processes on the principles of integrity, community, collaboration, and sustainability, and aims to transform the neighborhoods that it develops. Regardless of location, National Development strives to consistently create value through complex project structures, delivering tailored projects that are specifically designed to meet the needs of a given market. In particular, National Development focuses on setting new standards for live-work-play environments developed in urban communities. Notable projects include East Market in Philadelphia, The BLOC in Los Angeles, and 100 Van Ness in San Francisco. National Development is the wholly-owned, full-service development subsidiary of National Real Estate Advisors, LLC. To learn more, visit www.natrealestatedevelopment.com.
About National Real Estate Advisors, LLC:
National Real Estate Advisors, LLC (National) is an investment manager, developing, operating, and managing commercial real estate projects across the United States. Recognized as an ESG industry leader, National is focused on environmental sustainability, social responsibility, and strong governance practices to create value for investors and benefits for local communities. Founded in 2000, the firm constructs investment portfolios of modern property assets—apartment, office, mixed-use, medical/healthcare, industrial (including data centers), and hospitality. National is an independently operated subsidiary of the National Electrical Benefit Fund (“NEBF”), a substantial pension trust with a significant amount of assets that are managed by National on a discretionary basis. For more information, please visit www.natadvisors.com.
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